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Ellaktor S.A (ELLAKTOR) Fair Value & Analysis

Industrials · GR · Market cap €472M

ES Ellaktor S.A ELLAKTOR · AT
Price€1.33
Fair Value€3.92
Upside+194.2%
Quality50/100
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Mixed Growth
Low debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 10/100
Evidence: Medium Range €2.94 – €4.91 Share as image

Fair value as of: Jul 24, 2026

From 8 valuation models · updated 17 days ago

Fair value updated Jul 24, 2026, revised from €5.69 to €3.92 (−31.0%) since Jun 25, 2026. Share price −4.2% over the past month.

A solid business, screening 194% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€2.94). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€1.80 €0.5772 Fair Value €3.92 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range €0.5772 – €1.80 · fair‑value band €2.94 – €4.91 · the €1.33 price screens below the €3.92 fair value. Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

Ellaktor S.A (ELLAKTOR) currently trades at €1.33, while our model-based Fair Value estimate is €3.92, implying the stock looks roughly 194.2% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Trailing-twelve-month revenue stands at €18.6M. Revenue declined 84.9% year over year. It earns a return on equity of -8.3%. Net debt stands at €298M. Fundamentals as of Jul 24, 2026

Our scenario range runs from €2.94 (bear case) to €4.91 (bull case); at €1.33, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 194%, ELLAKTOR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income €2.73 €3.91 €29.43 76
Growth-Adj P/E €5.02 €7.17 €9.32 68
P/E Multiple €7.11 €9.48 €11.85 63
All 8 models by family
DCF Models
Owner Earnings €4.04 €5.14 €6.97 31
Earnings-Based
Graham-Dodd €3.07 €3.75 €4.22 54
Multiples
P/E Multiple €7.11 €9.48 €11.85 63
P/S Multiple €0.0800 €0.1100 €0.1300 58
P/B Multiple €4.27 €5.69 €7.12 55
Asset-Based
NCAV (Graham) €0.6300 €0.8500 €1.27 50
Economic Profit
Residual Income €2.73 €3.91 €29.43 76
Growth Earnings
Growth-Adj P/E €5.02 €7.17 €9.32 68

Widest divergence: Growth Earnings (€7.17) versus Asset-Based (€0.8500). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €18.6M
Revenue growth (YoY) -84.9%
Net margin 818%
Return on equity -8.3%
Free cash flow −€38.6M FY2025
Operating margin -235%
More key figures
EPS (TTM) €-0.1300
EPS growth (YoY) +510%
Net debt €298M FY2023

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 55 · Market factors (momentum, volatility) 43

Profitability 60
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ellaktor S.A., through its subsidiaries, engages in the construction and quarrying, wind energy, concession, environment, and real estate development businesses in Greece, other European countries, Gulf countries, the Americas, and Australia.

Full company description

Ellaktor S.A., through its subsidiaries, engages in the construction and quarrying, wind energy, concession, environment, and real estate development businesses in Greece, other European countries, Gulf countries, the Americas, and Australia. The company operates through five segments: Construction, Concessions, Renewable Energy Sources (RES), Environment, and Real estate Development. It constructs bridges, motorways, metro projects, biological treatment plants, natural gas pipelines, refineries, shopping centers, casinos, tourist and hotel units, cultural centers, hospitals, airports, Olympic and athletic complexes, railway projects, tunnels, dams, port projects, energy production stations, electromechanical projects, etc.; and logistics, office, residential, industrial, and educational buildings. The company is also involved in the waste management and energy production, which include design, construction, and operation of waste treatment plant, as well as offers alternative fuel production and biomass exploitation projects. In addition, it develops, constructs, and operates wind farms; provides real estate development and services, which consists of retail parks, entertainment centers, residential complexes, exhibition centers, and offices and mixed use buildings, as well as offers consultancy and services to third parties. The company was formerly known as ELLINIKI TECHNODOMIKI TEB SA and changed its name to Ellaktor S.A. in 2008. The company is headquartered in Athens, Greece.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Ellaktor S.A reported revenue of €18.6M in FY2025 versus €915M in FY2021, a compound −62.2%/yr. Reported net income was €156M in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€18.6M
Latest YoY
−90.3%
Avg. growth/yr (3Y)
−73.9%
Avg. growth/yr (5Y)
−53.9%
Avg. growth/yr (11Y)
−33.1%
Revenue −62.2%/yr
FY21 €915M
FY22 €1.0B
FY23 €287M
FY24 €191M
FY25 €18.6M
Net income
FY20 −€187M
FY21 −€77.7M
FY22 €497M
FY23 €33.3M
FY25 €156M

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Cite: Fair Value Calculator (2026). "Ellaktor S.A Fair Value". https://www.fairvalue-calculator.com/stock/ELLAKTOR

Peer Group

Engineering & Construction · 837 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Above median
Fair Value upside +194% · Top 25%
Return on assets -3% · Bottom 25%
Revenue growth -85% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 1.25× · Pricier than median
P/S (TTM) 29.37× · Pricier than 75% of peers
PEG 0.15× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 16
FUTURE 0 · sector 18
PAST 0 · sector 26
HEALTH 97 · sector 94
DIVIDEND 0 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Ellaktor S.A (ELLAKTOR) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of €3.92 versus a price of €1.33, about +194% (undervalued).
What is the fair value of ELLAKTOR?
Our model-based fair value for Ellaktor S.A is €3.92 (as of Jul 24, 2026), built from audited fundamentals. The current price is €1.33.
What is the quality score of ELLAKTOR?
Ellaktor S.A has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ellaktor S.A (ELLAKTOR)?
Ellaktor S.A reported trailing-twelve-month revenue of about €18.6M (latest available figure, as of Jul 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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